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NEW YORK ( TheStreet) -- PacWest Bancorp (Nasdaq: PACW) hit a new 52-week low Monday as it is currently trading at $13.77, below its previous 52-week low of $13.82 with 148,474 shares traded as of 12:35 p.m. ET. Average volume has been 223,400 shares over the past 30 days. PacWest has a market cap of $550.2 million and is part of the financial sector and banking industry. Shares are down 34.8% year to date as of the close of trading on Friday. PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides commercial banking products and services to small to medium size businesses, the owners and employees of those businesses, and households primarily in Southern California. The company has a P/E ratio of 27.9, below the average banking industry P/E ratio of 28.4 and above the S&P 500 P/E ratio of 17.7.